Find out more about Papaya Global Payroll Screenshots Employees ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Website offers employees with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to worldwide staff members regardless of the variety of workers in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, create regional accounts and have a minimum variety of workers.
The HR abilities offered by Global HR include different functions such as keeping track of getaway time, ensuring compliance, helping with the process of inviting brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for storing workers' documents, and offering support for work allow treatments in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment expenses distributed per place, total employment expenses per cycle and much more.
Globally, I have actually demonstrated management and tactical knowledge in assisting large-scale populations of over 100,000 employees across 170 countries. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon excellent night depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I've type of had a variety of various functions on the company side and also on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely really dreary and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and handling them becomes increasingly more complicated International companies are aiming to find Solutions and new methods to enhance processes specifically from a payroll and cross-border payment standpoint numerous companies preserve different checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to maintain different checking account sometimes in various nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments precisely effectively firmly and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly policies compliance information security and banking guidelines then there are the large numbers they add more intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's often a frustrating variety of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely really fundamental there's no genuine consistency structure we're residing in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in global payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they count on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good concern I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely essential that payroll and financing teams work closer together than ever um I'm always impressed when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to contribute to type of the level of complexity there's a growing number of advantages being organ or being used by organizations throughout the world so again you're simply wanting to include increasingly more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real difficulties or real tough sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense point of view from an impact point of view on workers it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on people's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment service is an excellent primary step um supplying an end-to-end payroll solution for your workers internationally again I believe is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we know how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everybody that's associated with those procedures and also so envision sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and type of try to get back to everybody so carrying on look why do companies pick to main different checking account there are businesses out there doing precisely this for particular nations and I have actually worked in an organization or many businesses doing exactly that I can state it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not creating additional work for anyone where we don't need to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it needs altering however ultimately individuals are really stuck with what they recognize
with best um modification is a tough thing we all don't like change um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving several checking account but there's a big amount of complexity goes with establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is big but I think the truthful response is modification um people haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to keep track of and this technique does pose several difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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